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Ether Spot ETFs in U.S. Saw $358 Million Outflows in 11-Day Stretch
Despite the outflows, the funds have seen a cumulative net inflow of $2.45 billion since their inception..
What to know:
- Ether ETFs experienced net outflows over 11 consecutive days, losing $358.1 million.
- The price of ether dropped by almost 7% over the period and is down 40% this year.
- Despite the outflows, the ETFs hold approximately $7 billion in ether and have seen a cumulative net inflow of $2.45 billion since their inception.
Spot ether (ETH) exchange-traded funds (ETFs) in the U.S. posted their 11th straight day of net outflows, losing some $358.1 million of investor funds as the price of ether fell almost 7%.
On Tuesday, BlackRock’s iShares Ethereum Trust ETF (ETHA) saw $12.9 million of outflows, losing a net $137.6 million over the period. Fidelity’s FETH and Grayscale’s ETHE were the other top two contributors to the total outflow.
STORY CONTINUES BELOW
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In total, spot ether ETFs now hold around $7 billion worth of the cryptocurrency and, despite the outflows, seen a cumulative net inflow of $2.45 billion since their inception in July, SoSoValue data shows.
The price of ether fell from around $2,150 on March 8 to around $1,990 as of Thursday. It's lost roughly 40% of its value year-to-date.
U.S. bitcoin (BTC) ETFs in the U.S. in contrast posted a fourth consecutive days of inflows, bringing their cumulative net total inflow to $35.8 billion since January last year.
Francisco Rodrigues
Francisco is a reporter for CoinDesk with a passion for cryptocurrencies and personal finance. Before joining CoinDesk he worked at major financial and crypto publications. He owns bitcoin, ether, solana, and PAXG above CoinDesk's $1,000 disclosure threshold.
